Undergraduate programme

Transkript

1 Undergraduate programme Compulsory Courses Bachelor s Thesis Seminar* Bachelor s Thesis Seminar* Economics I* Economics II* Mathematics I* Mathematics II* Mathematics III* Mathematics IV* Microeconomics I* Microeconomics II* Macroeconomics I Macroeconomics II Probability Theory and Statistics I* Probability Theory and Statistics II* History of Economic Thought Econometrics I* Econometrics II* Economic Transformation I* Economic Policy I Economic Policy II Institutional Economics* Foundations of Law* Commercial Law* Public Finance European Economic Integration Financial Economics* Economics English I Economics English Introduction into the Politology* Introduction into the Sociology* Elective Courses Economic Transformation II* Probability Theory and Statistics III* Theory of Regulation and Competition Policy* International Trade I. Financial Management Financial Management tutorials Accounting I* Accounting II* World Economic History* Czech Economic History* International Finance *course is taught in Czech Individual Decision-Making: Theory and Reality Labour Economics Selected Topics in Macroeconomics Microeconomics and Behaviour I* Microeconomics and Behaviour II* Mathematics V* Current Affairs* Political economics The human factor and personnel managament* Economic Policy of the Czech Republic 1

2 Graduate programme Economic Theory Advanced Microeconomics II Advanced Mathematical Statistics* Comparative Economic Systems* Contemporary Keynesian Economics - its rise and development The Czech Economic Thought* Economic Development, Transition and Growth Advanced Public Finance International Macroeconomics Game Theory 1. Business Cycles Theory Ethics and Economics* Neoclassical Macroeconomics and its Development Evolutionary economics Advanced Monetary Economics Compulsory Core Courses (core units common to all programmes) Master s Thesis Seminar I* Master s Thesis Seminar II* Advanced Microeconomics I Advanced Macroeconomics Advanced Econometrics Contemporary Economic Theories European Economic Policies Compulsory Courses (required specialising courses) European Economic Integration and Economic Policy Theory of Regulation and Regulation of Industries Labour Economics A Advanced Public Finance Economic Policy A Internal Market of the EU* Public Choice Advanced Economics of European Integration - Microeconomic Aspects International Macroeconomics Elective Courses (elective specialising courses) Game Theory 1. Business Cycles Theory Evolutionary economics Advanced Monetary Economics European Economic Integration Business Viewpoint* Advanced International Trade Finance, Financial Markets and Banking Banking Banking Tutorials Corporate Finance Financial Markets Instruments I Financial Markets Instruments II Introduction to the Theory of Financial Markets Introduction to the Theory of Financial Markets A seminar International Finance A I International Finance A II Corporate Governance Ethics and Economics* Advanced Monetary Economics European Economic Integration* Bills of Exchange and Promissory Notes* Accounting and Tax Consulting I* 2

3 Advanced Labour Economics Human Capital and Introduction to the Preference Theory* Post Keynesian Economics New Institutional Trends I* Corporate Law* Economic Dynamics I Economic Dynamics II Philosophy and Economics Law and Economics Economics of Incentives and Contracts Microeconomics of Banking Private Law Institutions of the Market* Environmental Economics Monetary Policy and Business Cycle *course is taught in Czech Economic Development, Transition and Growth History of the Czech Currency and Finance* Human Capital and Introduction to the Preference Theory* Post Keynesian Economics Industrial Organization Political Economy of European Integration New Institutional Trends I* Corporate Law* Corporate Governance Economics of Ageing Law and Economics Economics of Incentives and Contracts Private Law Institutions of the Market* Environmental Economics Monetary Policy and Business Cycle Accounting and Tax Consulting II* Risk Management and Financial Engineering on Developed Markets Introduction to the Institutional Framework of Security Markets* History of the Czech Currency and Finance* Stochastic Processes in Economics I* Stochastic Processes in Economics II* Decision Making in Economics I: Deterministic Optimization* Decision Making in Economics II: Stochastic Optimization* Quantitative Finance I Quantitative Finance II Auditing* Securities Accounting* New Institutional Trends I* Portfolio Analysis and Financial Risks Management Investment Valuation and Portfolio Management Corporate Law* Economic Dynamics I Economic Dynamics II Economics of Ageing Economics of Incentives and Contracts Microeconomics of Banking Private Law Institutions of the Market* Monetary Policy and Business Cycle 3

4 Undergraduate programme Compulsory Courses EB003 - Economics I prof. RNDr. Jiří Hlaváček CSc., ČSOB Chair holder Samuelson P.A., Nordhaus W.D.: Economie, nakl. Svoboda, Praha 1991 Havel, J. aj.: Průvodce studiem Economics, Aleko, 1991 Holman R.: Ekonomie, C.H.Beck, Praha 1999 Mankiw N.G.: Zásady ekonomie, Grada Publishing, Praha Some definitions of economics. Role of economics. Is possible to be objective in social sciences? Could scientists believe in possibility to change the world? 2. The production-possibility frontier (PPF-curve) 3. Economic organisation. Alternative economic systems. The law of diminishing returns. CPE (centrally planed economy). Privatisation. 4. The market mechanism. The Invisible hand and perfect competition. The role of government. Public goods, externalities. 5. Supply-and-demand analysis. Explanation of downward-sloping demand curve and its convexity. Factors determining supply and demand. Equilibrium of supply and demand. 6. Price elasticity of demand and supply. Income elasticity and cross elasticity of demand. Applications : Incidence of a Tax, regulation and deregulation. 7. Theory of consumer behaviour. Diminishing marginal utility. Consumer surplus. Cardinal and ordinal utility. Equilibrium condition. Edgeworth box. 8. Business organisation. Forms of business organisation. To accounting : Income statement, balance sheet, cash-flow analysis 9. ;Neo-classic theory of producer, theory of marginal product. Basic definitions : the production function, total and marginal product, diminishing returns to scale, technological change 10. Analysis of costs, fixed and variable costs, marginal and average cost curves, the long-run cost curves, equal-cost lines and substituting inputs to cost minimisation 11. Competitive Markets, the concept of alocative efficiency, competitive equilibrium, the shutdown point and the break-even point. 12. Imperfect competition : monopoly, oligopoly. Barriers to competition. The point maximising monopolist s and oligopolist s profit, the control of monopoly, the antitrust policy 13. The distribution theory : pricing of factors of production, labour market, measurement of inequality of incomes EB004 - Economics II prof. RNDr. Jiří Hlaváček CSc., ČSOB Chair holder Samuelson P.A., Nordhaus W.D.: Economie, nakl. Svoboda, Praha 1991 Mankiw N.G. : Zásady ekonomie, Grada 1999 Havel, J. aj.: Průvodce studiem Economics, Aleko, 1991 Holman R.: Ekonomie, C.H.Beck, Praha 1999 Mankiw N.G.: Zásady ekonomie, Grada Publishing, Praha Macroeconomic instruments and goals, aggregate supply and demand, economic policy in market economy 2. Definitions of GNP, measurement of GNP, price indexes, GNP and NNP, disposal income (DI), 3. Consumption and savings, savings and investment. Determinants of investment. Real vs. nominal interest rates 4. Output determination : Keynes theory of multiplier 5. Output determination : supply-side theory 6. Business cycles, price level and natural GDP, long and short time horizon. 7. Definition of money. Components of money supply. Commercial banking. Central banking 8. Unemployment. The natural rate of unemployment. 9. Inflation and its connection to unemployment. Phillips curve 4

5 10. Monetary policy, 11. Fiscal policy, deficit spending 12. Economic growth, International trade, theory of comparative advantage. EB005 - Mathematics I RNDr. Miroslav Zelený Ph.D. Hájková V., John O., Zelený M.: Matematika, Karolinum, Praha 2000 Kopáček J. a kol.: Příklady z matematiky pro fyziky I., Matfyzpress, Praha 2002 Děmidovič B.P.: Sbírka úloh a cvičení z matematické analýzy, Fragment, Praha 2003 Description: Students become familiar with mathematical analysis of functions of one variable. The presented methods are convenient for solving problems in economy. Sets of numbers, supremum and infimum, minimum and maximum. Limit of sequence (finite and infinite), theorem on limit of monotone sequence. Functions of one variable: limit of function, elementary functions and their properties, derivative, properties of continuous functions, Langrange theorem, finding of extrema, convex and concave functions, investigation of function and construction of its graph. Introduction to theory of functions of several variables, partial derivatives. EB006 - Mathematics II RNDr. Miroslav Zelený Ph.D. Hájková V., John O., Zelený M.: Matematika, Karolinum, Praha 2000 Kopáček J. a kol.: Příklady z matematiky pro fyziky I., Matfyzpress, Praha 2002 (kapitoly 7, 9.4 a 9.5) Kopáček J. a kol.: Příklady z matematiky pro fyziky II., Matfyzpress, Praha 2003 (kapitoly 3 a 5) Děmidovič B.P.: Sbírka úloh a cvičení z matematické analýzy, Fragment, Praha 2003 (nebo starší ruský originál) Description: Students became familiar with mathematical analysis of functions of several variables, linear algebra, series and Riemann integral. The presented methods are useful for solving problems in economics, mainly problems from microeconomics. Functions of several variables: smooth functions, implicit function theorem, free and constrained extrema, quasiconcave fuctions. Linear algebra: basic matrix operations, determinants, solution of systems of linear equations. Series: convergence and divergence, criteria of convergence, absolute convergence. Basic properties of Riemann integral. EB028 - Mathematics III Doc. RNDr. Ondřej Kalenda Ph.D. John, Kalenda, Zelený: Matematika (pokračování), Matfyzpress J.Kopáček a kol. Příklady z matematiky nejen pro fyziky, Matfyzpress 2005 (kapitola 7, oddíly ) Description: Deeper results of mathematical analysis and linear algebra which are applicable in economy are studied. Přednáška navazuje na Matematiku I a II, cílem je doplnění a prohloubení znalostí získaných v předchozích kursech (Taylorův polynom, Hessova matice a podmínky 2. řádu, vlastní čísla a vlastní vektory matic a pod.). Podmínkou zápisu kursu je absolvování předmětů: Matematika I a II. Taylor polynom of functions of one and several variables, sufficient conditions for local extrema, bilinear forms, difference equations. Vektorové prostory, lineární zobrazení, bilineární formy, vlastní čísla a vektory, Taylorův polynom 5

6 funkcí jedné a více proměnných, postačující podmínky pro existenci lokálních extrémů, diferenční rovnice. EB029 - Mathematics IV Michal Johanis John, Kalenda, Zelený: Matematika (pokračování), Matfyzpress 2003 M. Braun: Differential equations and their applications, Springer 1978 (ISBN ) Description: An introduction to theory of ordinary differential equations is presented. This theory has a lot of applications in different fields of economy. Equations with separated variables, existence and uniqueness of solution of first order equation, linear equation of higher order, systems of linear equations of first order, introduction to theory of stability. EB007 - Microeconomics I Ing. Ivo Koubek Varian, H.R.: Microeconomie, moderní přístup, český překlad,victoria publishing, první vydání, 1995 Gravelle, H. - Rees, R.: Microeconomics, Longman 1992 Varian H.R. Intermediate Microeconomics, A Modern Approach, Norton 1993 Frank R. Mikroekonomie a chování, český překlad, Svoboda - Libertas, 1995 Laidler, D.:Estrin,S. Introduction to Microeconomics, third edition, Philip Allan, 1989 Frank R. Mikroeconomics and behavior, Mc Graw Hill, Third edition, 1997 Description: Microeconomics is a set of theories, which help us to understand processes by which the scarce resources are allocated among alternative uses. Microeconomics explains the role of prices and markets in these processes, and makes more clear behaviour of the economic agents. This course of Microeconomics I consist of introduction in Microeconomics and Consumer Theory. The course is oriented on standard analytic methods. The main goal is to provide fundamental instruments of microeconomic analysis. INTRODUCTION IN MICROECONOMICS: 1. Nature of microeconomics. 2. Introduction in optimisation. 3. The method of Lagrange. THEORY OF CONSUMER BEHAVIOUR: 4. Consumers budget constraint. 5. Preferences and preference ordering. 6. Utility, utility function and its properties 7. Consumer choice. 8. Comparative statics: Income changes and consumer choice, Engel curves and income elasticity of demand. 9. Comparative statics: Price changes and consumer choice, demand curves and price elasticities of demand. 10. Substitution and Income effects of price change. 11. Duality: Expenditure function and Shephards lemma. 12. Duality: Indirect utility function, Roy Roys identity and Slutsky equation 13. Measuring of changes in consumers benefit resulting from price changes, 14. Revealed preferences. 15. Price indices and changes in consumers standard of living. 16. Consumer buying and selling goods. 17. Consumers supply of labour. 18. Intertemporal choice and interest rate. 19. Capital market, investment and consumers production opportunity. 20. Consumer choice under uncertainty, insurance and bets, moral hazard and adverse selection. 21. Introduction in risky assets. 22. Consumption technologies. 6

7 EB008 - Microeconomics II Ing. Ivo Koubek PhDr. Filip Žikeš MSc. Frank, R.: Mikroekonomie a chování, český překlad, Svoboda - Libertas, 1995) Laidler, D.- Estrin,S.: Introduction to Microeconomics, third edition, Philip Allan, 1989 MIKROEKONOMIE, Soukupová, Hořejší, Macáková, Soukup, Management Press, Praha 2000, druhé vydání. Description: Microeconomics is a set of theories, helping us to understand process by which scarce resources are allocated among alternative uses. Microeconomics explain the role of prices and markets in this process and make clear economic agents behaviour. The lectures of Microeconomics II are oriented on Theory of Firm and Industrial Organisation. THEORY OF THE FIRM 1. Introduction in the firm theory. Production, production function and production possibility set. Isoquants of output level and marginal rate of technical substitution. 2. Exchangeability of inputs and elasticity of substitution. Changes in scale and returns to scale. 3. Elasticity of returns to scale, returns to scale in homogeneous and homothetic production functions 4. Short-run production function. Long-run versus short-run decision making. Returns to factor and elasticity of returns to factor, marginal and average product of factor. 5. Profit maximization on production possibility set (under perfect competition) 6. Cost: cost minimisation in the long run, corner solution 7. The long-run Cost function and its properties. Shephards lemma, price elasticity of cost. Properties of conditional input demands. 8. Expansion path of the firm and cost curves, average and marginal costs. Changes in economies to scale and output elasticity of cost. Comparativ statics of cost in the long-run. 3. Cost minimisation in the short-run and short-run expansion path of the firm. Short-run cost function. Fixed and variable cost. Comparativ statics of cost in the short-run. 10 Short-run cost versus long-run cost and envelope property. Cost minimisation in firm with several plants and sub-additivity of cost function. INDUSTRIAL ORGANIZATION 11. Perfect competition: Assumptions. Profit and Revenue. Profit maximisation in the long run under given cost function. Firm supply and supply function in the long run. 12.Profit maximisation and supply in the short run. The relationship between profit maximisation in the long run and in the short run. 13. Profit function and its properties, Hotellings lemma. Properties of Supply function. Marshallian input demands and their properties. 14. Market demand for Industry output under perfect competition. Industry supply in the long run and in the short run under constant input prices. Differences in costs among firms inside the Industry (short run and long run). 15. External technological diseconomies and economies to scale. External pecuniaryl diseconomies and economies to scale. Effect of production expansion of industry and following input price changes on firm and industry supply in the-long run and the short-run. 16. Perfect competitive markets and equilibrium, existence, stability, Walrasian versus Marshallian process. Naive versus rational expectations and Marshallian process in the long-run and short-run 17. Monopoly: Sources of Monopoly. Price and output under Monopoly, Monopolistic producers total, average and marginal revenue. Monopolistic profit and supplied output. Price elasticity of demand and markup. 18. I., II. and III. degree price discrimination. Monopoly and inefficiency, measures of market power, regulation. 19. Product differentiation and monopolistic competition: The Chamberlin model, kinked demand, spatial model of monopolistic competition. 20. Oligopoly. Quantity setting: The Cornout model, credible commitment and The Stackelberg model. Price setting: Bertrand model, Price leadership. Collusion and game theory - Prisoners dilemma, dominant strategy, Nash equilibrium. One-shot and repeated games, simultaneous and sequential games. INPUT MARKETS 21. Input markets. Perfect competitive and monopolistic output market and input demand. Monopsony and monopoly on input market. Input prices and rent. GENERAL EQUILIBRIUM 22. General equilibrium under pure exchange economy: Edgeworth box, Pareto-efficiency and Pareto-preference. Exchange and contract curve. All markets equilibrium. Prices, excess demand and Walras law. I. and II. Theorem of Welfare Economics. 23. General equilibrium -production possibilities economy. Robinson Crusoe Economy. Production 7

8 and I. and II. Theorem of Welfare Economics. Production possibilities and marginal rate of transformation. Comparative advantage. Pareto-efficiency and production, existence of world prices and equilibrium. Walrasian equilibrium: Existence and excess demand function, stability and tâtonnement process. 24. Social welfare function. Arrows conditions and Impossibility Theorem. Majority voting decision. Externalities and Coase Theorem. Public goods: Samuelsons criterion of Pareto-efficiency. EB009 - Macroeconomics I PhDr. Michal Hlaváček Ph.D. [1] Cahlík: Makroekonomie. Skripta Karolinum [2] Burda-Wyplosz: Macroeconomics, a European Text [3] Barro: Macroeconomics. Fourth Edition Description: The course acquaints students with macroeconomic indexes and with national accounts system. Behaviour of the economy in the long run and short run is explained, especialy with concern to generation, distribution and alocation of national income. The course also solves problems of small open economy. (1) What is macroeconomics. Economic theories and models. Methods. Business cycles, price level and natural GDP, long and short time horizont. Stabilization politics. (2) Measurment of economic activity, price changes and unemployment. National income accounts. Flow of funds. I-O analysis. (3) General classical model. (4) Effective demand. Consumption and investment. Income-expenditure model. (5) Liquidity preference theory. IS-LM model. (6) AD-AS model: AD curve. AS curve. (7) General keynesian model. Liquidity and investment trap. (8) Money supply. Monetary politics.i (9) Money supply. Monetary politics.ii (10) Money demand. (11) Exchange rate and balance of payment. (12) IS-LM-BP model. (13) AD-AS model for open economy. EB010 - Macroeconomics II PhDr. Michal Hlaváček Ph.D. [1] Cahlík: Makroekonomie. Skripta Karolinum [2] Mankiw: Macroeconomics, Worth Publishers, 1994 [3] Burda-Wyplosz: Macroeconomics, a European Text [4] Barro: Macroeconomics. Fourth Edition (1) Intertemporal budget constraint. Public debt. International investment position. (2) Adaptive expectations. Theory of rational expectations. Effective market theory. (3) Aggregate supply models: Friedman and Lucas. Sticky prices model. (4) Real business cycle theory I. (5) Real business cycle theory II. (6) New keynesian theory. (7) Dynamic AD-AS model. Demand and supply shocks in DAD-DAS model. (8) Inflation. (9) Unemployment. (10) Consumption. (11) Investment. (12) Growth. (13) Economic policy. 8

9 EB011 Probability Theory and Statistics I Ing. Monika Hollmannová Doc. RNDr. Jan Ámos Víšek CSc. Andel, J. Matematicka statistika, Praha 1978 Hatle, J.- Likes, J. : Zaklady poctu pravdepodobnosti a statistiky, 1972 Rao, C.R.: Linearni metody statisticke indukce a jejich aplikace. Praha, 1978 Description: Content of the course is an introduction and the explanation of basic notions of the probability theory. The lectures allow to the participants to insight into noncausual interpretation of the world. Understanding does not require any special knowledge over the framework of mathematics which is read on the Institute. This course together with the statistical course opens a way to the understanding of the much more involved stochastic and econometric methods. The condition for selecting this course is passing Mathematics I. and II.. Basic notions of probability theory, random variables, their characteristics and measures of their mutual dependence, selected types of distributions, some probabilistic inequalities, types of convergence of random variables, laws of large numbers, central liit theorem and the law of iterated logarithm. EB012 - Probability Theory and Statistics II Ing. Monika Hollmannová Doc. RNDr. Jan Ámos Víšek CSc. Andel, J. Matematicka statistika, SNTL&ALFA, Praha 1978 Hatle, J. - Likes, J.: Zaklady poctu pravdepodobnosti a statistiky, SNTL 1972 Rao, C.R.: Linearni metody statisticke indukce a jejich aplikace. Academia, Praha, 1978 Description: This course follows the course Probability Theory and Mathematical Statistics I (that course is required for selecting this one). Participants obtain an information about basic statistical methods and notions: random sample, various types of estimators and their properties, testing the hypotheses. 1. Random choice Definition of random choice, statistics: an empirical mean, empirical moments, central empirical moments, and independent random choices. 2. Estimation Theory Unbiased estimators, efficient estimators, the best unbiased estimators, a maximum likelihood estimator, interval estimators. 3. Nonparametric estimation theory Random choice ordered, sign test, correlation coefficient estimators, change point. 4. Hypothesis test procedures A task formulation, a critical region, a critical level, the most powers critical region, a test procedure, and critical value of the test procedure. EB013 - Econometrics I Doc. RNDr. Jan Ámos Víšek CSc. Anděl, J.: Matematická statistika, SNTL ALFA, Praha, Bratislava, Anděl, J.: Statistické metody, MATFYZPRESS, Praha, Atkinson, A. C.: Plots, Transformations and Regression: An Introduction to Graphical Methods of Diagnostic Regression Analysis, Claredon Press, Oxford, Berndt, E.: The Practice of Econometrics, Reading, Mass.,Addison-Wesley, Chatterjee, S., Hadi, A. S.: Sensitivity Analysis in Linear Regression, J. Wiley Sons, New York, Christ, C. F.: Econometric models and methods, Wiley Sons, New York, Greene, W. H.: Econometric Analysis, Macmillam Press, New York, Judge, G., Hill, C., Griffiths, W., Lee, T.: Theory and Practice of Econometrics, J. Wiley Sons, New York, Kennedy, P.: A Guide to Econometrics, MIT Press, Cambridge, Kmenta, J.: Elements of Econometrics, Macmillan Publishing Company, New York,

10 Maddala, G.S.: Introduction to Econometrics, Macmillam Press, New York, Mood, A. M., Graybill, F. A., Boes, D. C.: Introduction to the Theory of Statistics, McGraw-Hill Series in Probability and Statistics, New York, Rao, C.,R.: Lineární metody statistické indukce a jejich aplikace, Academia, Praha, Zvára, K.: Regresní analýza, Academia, Praha, 1989 Další literatura je na Description: The course of (basic) economerics offers an introduction and explanation of (linear) regression model for cross-sectional data. The lectures (in English) are given on A list of discussed topics (in given lecture) is given at the start of evey lecture. For a list of references see also The seminars are devoted to reading and presenting (by students) some applied topics. Obligatory is Mathematics I and II and Probability and Mathematical Statistics I and II. Classical regression analysis Why just linear regression model (Stone-Weierstrass theorem), causality and correlation (new paradigma versus renesance), objectivity, subjectivity, approximation, explanation of data. Matrix formalizm, types of distributions (normal, Student s, Fisher Snedecor, distribution of quadratic forms. Linear regression Estimators of coefficients, assumptions and optimality, equivalence of LS and ML, estimator of variance of random fluctuations. Diagnostics of estimator of regression model Distribution of quadratic forms, test of significance of coefficients, (adjusted) coefficient of determination, Fisher-Snedecor s F, test of submodels, Chow s test, criteria for selection of model. Outputs of statistical packages Tables, (diagnostic) grafs, interpretation. Verifying basic assumptions Tests of normality, homoscedasticity (examples, models, tests), independence of random fluctuations (Durbin-Watson), kolinearity, ridge regression, constraints on coefficients, independence of explanatory variables and random fluctuations (examples, instrumental variables, Hausman test). Sensitivity of model Underfitting, overfitting, influence of one observation, multicollineariry, its diagnostics and remedy against it, ridge regression, model with restrictions, evaluation of such model. Optimality of prediction inside and outside data -- Clemens result. Special regression models Generalized regression model, categorial explanatory variables, discrete response variable (problems with classical regression, binary response, estimators in logit and probit models). Explanatory variables measured with errors. EB014 - Econometrics II Doc. RNDr. Jan Ámos Víšek CSc. Anděl, J.: Matematická statistika, SNTL ALFA, Praha, Bratislava, Anděl, J.: Statistické metody, MATFYZPRESS, Praha, Atkinson, A. C.: Plots, Transformations and Regression: An Introduction to Graphical Methods of Diagnostic Regression Analysis, Claredon Press, Oxford, Berndt, E.: The Practice of Econometrics, Reading, Mass.,Addison-Wesley, Chatterjee, S., Hadi, A. S.: Sensitivity Analysis in Linear Regression, J. Wiley Sons, New York, Christ, C. F.: Econometric models and methods, Wiley Sons, New York, Greene, W. H.: Econometric Analysis, Macmillam Press, New York,

11 Judge, G., Hill, C., Griffiths, W., Lee, T.: Theory and Practice of Econometrics, J. Wiley Sons, New York, Kennedy, P.: A Guide to Econometrics, MIT Press, Cambridge, Kmenta, J.: Elements of Econometrics, Macmillan Publishing Company, New York, Maddala, G.S.: Introduction to Econometrics, Macmillam Press, New York, Mood, A. M., Graybill, F. A., Boes, D. C.: Introduction to the Theory of Statistics, McGraw-Hill Series in Probability and Statistics, New York, Rao, C.,R.: Lineární metody statistické indukce a jejich aplikace, Academia, Praha, Wonnacot, T. H., Wonnacot, R. J.: Statistika pro obchod a hospodarstvi, Victoria Publishing, Praha, Zvára, K.: Regresní analýza, Academia, Praha, 1989 Some other references one can find on Description: The course of (basic) economerics offers an introduction to time series and explanation of (linear) regression model for panell data. The lectures (in English) are given on A list of discussed topics (in given lecture) is given at the start of evey lecture. For a list of references see also Time series Description and categorization, decompozition on: trend, cyclic and seasonal parts, random fluctuations and shocks. Fitting polynomials (an estimation of the order) smoothing by exponencial and logistic curves, Hotteling s and Tintner s methods, bonus method.. Mechanical smoothing Moving sums, the impact on periodical part. Exponencial smoothing of the first, secong and third stage. Adaptive weights Regresional approximations. Holt-Winters method (aditive and multiplicative model). Diagnostics Test of randomness (sign test, based on points of change, Kendall tau, Spearmen s rho, median test). Correlogram.. Intervention analysis. Estimation of coefficients of linear regression model for panel data. Correction for inefficiency caused by correlations between (or among) disturbances. Warning for mechanical application of correction methods. Robust regression General ideas, contamination of data and its consequences. An alternative interpretation of the estimating parameters. Influence function and characteristics derived from it (gross-error sensitivity, locall shift sensitivity, rejection point. Breakdown point. Redescending estimators. B- and V- optimal estimators. Diagnostics in robust regrssion. Classes of estimators (M,L,R, S, minmal determinant of covariance matrix and minimal volume of the ellipsoid, minimal distance, with high breakdown point). Estimates of variances and studentizations in robust regression.implementation of methods. Interpretation of results. EB016 - History of Economic Thought Mgr. Roman Pazderník PhDr. Tomáš Sedláček Prof. Ing. Milan Sojka CSc. Holman R. a kol.: Dějiny ekonomického myšlení. Praha, C. H. Beck 1999, 2002 Sojka M. a kol.: Dějiny ekonomických teorií. Praha, Karolinum 2000 Screpanti E., Zamagni S.: An Outline of the History of Economic Thought. Oxford, Oxford University Press 1995 Ekelund R. B., Hébert R. F.: A History of Economic Theory and Method. 4th Edition. McGraw-Hill 1997 Description: Course of lectures on the development of economic thought and economic theories since the Ancient Greek economic thought until modern times. The emphasis is on the development of economic ideas and theories of the most important streams, schools and authors of economic thought since the times of the classical political economy. The aim of the course is to help students 11

12 of economics in understanding the wealth of ideas and theories which developed during centuries into the modern economics and its major alternatives. Lectures 1. From Economic Thought to Economic Science economicν thought of ancient Greece and Rome medieval economic thoughtν ν mercantilism 2. French Fysiocratic School 3. Classical Political Economy 4. Socialist Economic Thought 5. German Historical School 6. Austrian School 7. Neoclassical Economics 8. J. A. Schumpeter 9. Institutionalism an new institutional economics 10. Keynes and keynesianism 11. Neokeynesian macroeconomics and new keynesian economics 12. Postkeynesian Economics and neoricardian economics 13. Neoclassical Macroeconomics after Keynes 14. French Structuralism EB018 - Economic Transformation I Prof. Ing. Karel Kouba DrSc. 1. Kouba, K., Vychodil, O., Roberts J. Privatizace bez kapitálu: Zvýšené transakční náklady české transformace, Karolinum 2005, Praha (Studie Národohospodářského ústavu Josefa Hlávky; studie 4/2004) (B - monografie) 2. F.A. Hayek: Právo, zákonodárství a svoboda ( Nový výklad liberálních principů spravedlnosti a politické ekonomie), Academie Praha ) Pravidla a řád. Úvod. Kapitola II, Kosmos a taxis. Str. 9-13, F.A. Hayek: Využití znalostí ve společnosti. V: Sborník "Trh versus plán-půl století sporu. Sborník klasických i novějších statí k jádru sporů o prioritu trhu či centrálního plánu". Uspořádali J. Kameníček, K. Kouba. UK, Praha Nebo jako Využívání informací ve společnosti. Liberální ekonomie. Kořeny euroamerické civilizace. Prostor Str Nebo: Zásady liberálního řádu. ACADAMIA Ludwig von Mises: Ekonomická kalkulace v socialistickém společenství. Sborník: Trh vs. plán.str Nebo: Zásady liberálního řádu. ACADAMIA Milton Friedman: Tržní mechanismy a centrální ekonomické plánování. (1983).V: Liberální ekonomie. Prostor Str Nebo: G. Waren Nutter: Markets Without Property: A Grand Illusion. (1968). Sborník: Trh vs. plán.str Nebo: Zásady liberálního řádu. ACADAMIA Kornai János: Placení účtu za gulášový komunismus. Maďarský vývoj a makroekonomická stabilizace z pohledu politické ekonomie. Institut ekonomie ČNB, Praha 1996, VP č. 54, nebo PE 2,3/ Belka, M.: Poučení z polské transformace. Finance a úvěr 4/2001. Nebo: 8. Belka, M.: Lessons and Challenges in Transition. Nebo: 9. Jonáš, J.: Ekonomická transformace v ČR v 90 letech: ztracená dekáda? První kapitola v: Světová ekonomika na přelomu tiisíciletí. Management Press, Praha (Str. 9-54). (V knihovně IES- Transformace). 10. Bokros,L.: Rozdílné cesty visegradských dvojčat. Porovnání procesu transformacve v ČR a Maďarsku. Finance a úvěr 4/2001, nebo angl. : North, D.C.: Institucionální struktury a transformační procesy. PE 5/1995. Nebo: North, D.C.: Vývoj ekonomické výkonnosti v čase. PE 4/1994. Nebo: Oslava ekonomie. ACADEMIA. 12. Kornai János: Deset let po cestě ke svobodné ekonomice. Politická ekonomie 5/2001. Nebo: Ten Years After "The Road to a Free Economy". The World Bank, Autorská sebereflexe po deseti letech ke knize: Kornai János: Cesta ke svobodné ekonomice. Academia, Praha (V IES- Transf.). 13. Privatizace: "Privatization Lessons...".Int.: 14. DALŠÍ DOPORUČENÁ LITERATURA: 15. Vychodil, O.: Privatization...Na int.: Ek. Transf. II. Vychodil_ Kouba,K.: Systémová transformace a mikroekonomické základy makrostability. PE 3/1994. (V IES-Transf.). 17. Kouba, K.: Hlavolam neočekávané ztráty dynamiky české ekonomiky. CEP č. 6/2000. Nebo HN v 12

13 IES-Transf. 18. Kouba, K.: Teorie pravidel a realita našeho života. Zájmové skupiny - terra inkognita české ekonomiky. 19. V: Střední Evropa 106/2001, Nebo: Institucionalizace (ne)odpovědnosti. Karolinum 2001.Nebo v IES-Transf. 20. Výzkumné publikace Světové Banky. World Bank. (Na internetu). 21. Výzkumné publikace Institutu ekonomie ČNB. ČNB, sekce měnová. 22. Ekonomická teorie a česká ekonomika. Publikace ze seminářů ČSE. Editor: M. Čihák.V. Kotlán. 23. Jonáš, J.: Ekonomická transformace v ČR, makroekonomický vývoj a hospodářská politika. Praha Klaus,V.: Ekonomická věda a reforma. Praha Mlčoch, L.: Zastřená vize ekonomické transformace. Karolinum UK, Praha Mlčoch,L., Machonin,P., Sojka,M.: Ekonomické a spol. změny v čs. spol. po roce 1989.Karolinum Acta Universitatis Carolinae. OECONOMICA. 1/1999: Konkurzy. 2/1999: Kapit.trh. 1/2000: Privatizace. 28. Hospodárská politika na Slovensku INEKO, Bratislava Spěváček, V. a kol.: Transformace české ekonomiky. Praha Svejnar,J. ed.: The Czech Rep. and Economic Transition in Eastern Europ, AP 1995, česky ACADEMIA. 31. Zpráva o vývoji české společnosti Ed. Večerník, J., ACADEMIA Politická ekonomie. Finance a úvěr. Zejména FÚ 4/2001: Lekce a výzvy transformace po 10 letech. 33. Kupónová privatizace. Tříska, D., Klaus, V., Holman, R., Rudlovčák, V., Hrubý, M., Mládek, J. a Loužek, M. Sborník textů. CEP STATISTICKÁ DATA -- ANALÝZY. ČNB Měsíční Bulletin. (Int: Publ. ČSÚ-Českého úřadu statistického. (V knihovně IES FSV UK). Pravidelná zprávy Evropské Komise EU o ČR. 35. Ekonomické zprávy. V.Tomšík. Newton. (Knihovna IES, Hospodářské trendy KB. 36. WIIW. Research Reports. Vienna. CZECH REPUBLIC. CERGE Transition Reports. EBRD. 38. Aktuální vývoj ČESKÁ REPUBLIKA. SLOVENSKÁ REPUBLIKA. ČSOB. 39. OECD ECONOMIC SURVEYS. Hungary. Poland. Czech Republic. Slovak Republic. 40. Další doporučená literatura v "Doporučená témata závěrečných prací"- IES knihovna Ek. Transf. 1. Market order. Spontaneus order. 2. The rules of order. Formal and informal rules. Change of system. 3. Transformation, institutions, ethics, and economic performance. Institutional and ethical deficit. 4. Market coordination. Price mechanism and the state. The path of institutional change. 5. Model of the socialist system. Model and reality of the centrally planned economy. 6. The politics and economics of reform. Market socialism. 7. The paradigm of systemic changes of countries in transition. The case of the Czech Republic. 8. Macroeconomic policies (monetary, exchange rate, and fiscal policies) of countries in transition. 9. The institutional and microeconomic foundation of macrostability. 10.Changes of property rights and privatization policies in transition economies. 11.The Czech Republic. 12. Poland. 13. Hungary. 14. Comparison of strategies of transformation, their implementation, and corrective measures. 15. Discussion: Results, and social costs of transformation. Open issues and perspectives. EB020 - Economic Policy I Ing. Vladimír Dlouhý CSc. Description: The basic idea of the course is to show the interconnection between theoretical macroeconomic models and their application in practical ecnomic policy during the 20th century. It starts at the very beginning of modern macroeconomics in the Great Depression of the 1930s, and by comparing the Classical and Keynesian models it discusses the economic policy of that period, primarily in the USA (the New Deal). It further examines various models from the period following WWII, primarily the Neo-classical Synthesis and its application to the economic policy of the USA and Britain in the 1950s and 1960s, and compares this to approaches in other countries (France, Scandinavia, West Germany and Japan). It then continues with an examination of the models of an open economy (Mundell-Fleming), and discusses economic policy from the period the Oil Crises of the 1970s and 1980s, Lucas`s critique, and models of rational expectations. Attention is paid to specific developments in the economic policy of the 1970s and 1980s, including those of Ronald Reagan and Margareth Thatcher. The effectiveness of monetary and anti/inflationary policy is illustrated by 13

14 the increasing role of the central banks in the economic policy of the 1990s. The final part discusses problems in the economic policy of the transition countries of Central Europe, and questions related to European economic integration. The exposition looks not only at the macroeconomic level, but also emphasis the importance of microeconomic factors in individual cases. EB021 - Economic Policy II Ing. Vladimír Dlouhý CSc. Description: The basic idea of the course is to show the interconnection between theoretical macroeconomic models and their application in practical ecnomic policy during the 20th century. It starts at the very beginning of modern macroeconomics in the Great Depression of the 1930s, and by comparing the Classical and Keynesian models it discusses the economic policy of that period, primarily in the USA (the New Deal). It further examines various models from the period following WWII, primarily the Neo-classical Synthesis and its application to the economic policy of the USA and Britain in the 1950s and 1960s, and compares this to approaches in other countries (France, Scandinavia, West Germany and Japan). It then continues with an examination of the models of an open economy (Mundell-Fleming), and discusses economic policy from the period the Oil Crises of the 1970s and 1980s, Lucas`s critique, and models of rational expectations. Attention is paid to specific developments in the economic policy of the 1970s and 1980s, including those of Ronald Reagan and Margareth Thatcher. The effectiveness of monetary and anti/inflationary policy is illustrated by the increasing role of the central banks in the economic policy of the 1990s. The final part discusses problems in the economic policy of the transition countries of Central Europe, and questions related to European economic integration. The exposition looks not only at the macroeconomic level, but also emphasis the importance of microeconomic factors in individual cases. EB022 - Institutional Economics Prof. Ing. Lubomír Mlčoch CSc. Lubomír Mlčoch: Institucionální ekonomie, Praha, Karolinum Doporučená literatura: O.E.Williamson: The Economic Institutions of Capitalism, London, Free Press Lubomír Mlčoch: Úvahy o české ekonomické transformaci, Praha, Vyšehrad Lubomír Mlčoch: Restrukturalizace vlastnických vztahů: institucionální pohled. In: Mlčoch,L.- Machonin P.- Sojka M.: Ekonomické a společenské změny v české společnosti po roce Praha, Karolinum Mlčoch L.: Deset lekcí z deseti let české transformace, Finance a úvěr 4/2001. Description: New institutional economics /economics of transaction costs/: theory at the crossroad of formal institutions /legal framework/ and economy. 1. Old and New Institutionalim: economics of transaction costs. 2. Formal and Informal Institutions, new economic man - contractual man: strong self- interest, bounded rationality and economic oportunism. 3. Economics of transaction costs 4. Theory of property rights. 5. Theory of contract 6. Markets and hierarchies: theory of vertical integration and limits of the firm 7. Theory of agency and corporate governance. 8. Theory of the state /government/ in the new institutionalism. 9. Theory of the institutional change. 10. Institutional analysis of the really existing socialism and economic transformation. EB023 - Foundations of Law JUDr. Jiří Zoubek Dědič, J. - Švarc, Z.- a kol.: Učebnice práva pro ekonomy. Prospektum, Praha 1994 Description: Kurs je rozdělen do dvou částí. V první části jsou studenti seznámeni s vybranými otázkami práva, například otázkou práva na život, úlohou ústavy, definicí lidských práv a jejich systemizací, srovnání práva přirozeného a pozitivního, vybranými otázkami právního státu. V části druhé pak s 14

15 důležitými právními předpisy ČR (Ústava ap.), druhy právních norem, jejich klasifikací, systémem právních předpisů ČR. 1. Úvod Obecně právní pojmy Ústavní právo České republiky Základy veřejného práva Základy soukromého práva EB024 - Commercial Law JUDr. Jiří Zoubek Dědič, J. - Švarc, Z.- a kol.: Učebnice práva pro ekonomy. Prospektum, Praha 1994 Description: Kurs je pokračováním úvodu do studia práva a končí soubornou zkouškou za oba semestry. Předmětem výkladu je nejprve celková koncepce obchodního práva obecně a v ČR, později výklad přechází k jednotlivým klíčovým právním normám daného oboru. EB025 - Public Finance Doc. MPhil. Ondřej Schneider Ph.D., McKinsey Chair J.E. Stiglitz: Economics of the Public Sector, 2. edition, C.V. Brown and P.M.Jackson: Public Sector Economics, 4. edition, S.Bailey: Public Sector Economics - Theory, Policy and Practice, N. Barr: The Economics of the Welfare State, John Cullis, Philip Jones: Public Finance and Public Choice, McGraw Hill, J.E. Stiglitz: Economics of the Public Sector, 2. edition. C.V. Brown and P.M.Jackson: Public Sector Economics, 4. edition, S. Bailey: Public Sector Economics - Theory, Policy and Practice, N. Barr: The Economics of the Welfare State, John Cullis, Philip Jones: Public Finance and Public Choice, McGraw Hill, Description: The course deals with standard public finance topics: we start with an introduction to the economic rationale for government. The major part of the course is then devoted to the theory of taxation, i.e. how taxes influence economic activities. The second part of the course analyzes public expenditures theories, namely public choice theory. We conclude with an overview of literature and empirics on the globalization and Internet effects on the tax systems worldwide. 1) The Role of Public Finance Theories of state, public sector development and history, expenditure growth, public sector in the Central European countries. 2) Market Failures and Rationale for Government Moral hazard, adverse selection, externalities. Classical and public choice approach, government failures. 3) Taxation Theory Financing the welfare state, tax incidence, direct and indirect taxes, optimal taxation and Ramsey model. Intertemporal choices and generational accounting. 4) Public Expenditures Public goods, government budget, social programmes and redistribution. 5) Public Choice Theory Voting paradox, Arrow`s impossibility theorem. 6) Fiscal Policy in a Long-Term Horizone Political economy, political business cycle. Ricardian theory, social security reforms, pension reform. 7) Globalization, Internet and the Tax System Tax erosion brought by new technlogies, impact of the Internet on taxing income and consumption. EB026 - European Economic Integration doc. Ing. Oldřich Dědek CSc., Česká spořitelna Corporate Chair PhDr. Jana Marková Baldwin R. & Wyplosz C.: The Economics of European Integration (second edition). McGraw-Hill Education,

16 Jovanović M. J.: The Economics of European Integration: Limits and Prospects. Edward Elgar, El-Agraa, A., M., The European Union, Institutions, Economics and Politics, Prentice Hall Europe, 5 th edition, London, Šrein, Z., Mechanismy hospodářské politiky Evropské unie, VŠE Praha, 1999 Artis, K., J., Lee, N., The Economics of European Umion. Policy and Analysis, Oxford University Press New York, europa.eu.int Description: Introductory comprehensive course to the European economic integration. Individual topics of economic integration are approached from three angles: i) theoretical background helping understand desirability of integration methods are presented, ii) integration processes are explained from the historical perspective and iii) discussion pays attention to current problems and challenges. Lectures are supplemented with seminars with the aim to encourage active participation. Complete set of presentations (both in Czech and English) covering lectured topics is available for downloading at 1. Basic notions and concepts (stages and methods of integration, economic hints for subsidiarity, legal foundations of EU and its constitutional treaties, main European institutions) 2. Free movement of goods (effects of foreign trade liberalisation, tariff and non-tariff barriers to trade, free trade area versus customs union, preferential liberalisation, objectives of Rome Treaty, formation of customs union, technical barriers to trade, objectives of SEA, dynamic effects of trade liberalisation) 3. Free movement of capital 4. Monetary integration and euro (theory of optimum currency areas, exchange rate as shock absorber, preservation of external price competitiveness, exchange rate and capital mobility, endogenouity of monetary union, post-war monetary integration, shake in the tunnel, building blocks and stages of European Monetary System, Maastricht Treaty and its convergence criteria, enlargement of Eurozone) 5. Integration of fiscal policies (parameters of European budget, sources of budget, multi-year financial perspectives, tax harmonization, its impact on individual taxes, Stability and Growth Pact, its motivation and basic features, SGP reform) 6. Common agricultural policy (rationale for state assistance, main price and non-price intervention instruments, green currencies, key problems and reforms, challenges of Eastern enlargement) 7. Regional policy (regional differences in EU, centrifugal and centripetal agglomeration effects, model of spatial equilibrium, organisation of regional policy, financial instruments, efficiency of regional policy) 8. Trade policy (EU trade flows, rationale for common trade policy, World Trade Organisation, preferential pyramid of EU trade relations, EFTA, ACP countries, hub-and-spoke integration) EB027 - Financial Economics doc.ing. Jan Pudlák CSc. Sekerka, Bohuslav: Banky a bankovní produkty. Profess Consulting s.r.o., Praha Z. Revenda, M. Mandel, J. Kodera, P. Musílek, P. Dvořák, J. Brada: Peněžní ekonomie a bankovnictví. 4. vydání. Management Press, Praha 2005 Dvořák, Petr: Bankovnictví pro bankéře a klienty. Učebnice, 3. vydání, Linde, Praha Anderson, R., et. al. (1996), Banking Sector Development in Central and Eastern Europe, CEPR, Forum Report of the Economic Policy Initiative no.1. Cahlík: Finanční ekonomie Blok A: Finanční systém, peníze a ekonomika. Karolinum Heffernan, S., (1996), Modern Banking in Theory and Practise, Willey, London, Mishkin, F.S.(1988, Money, Banking and Financial Markets, 3rd edition,. Mishkin Economics.Inc.,USA, Sharpe,W.F.:- ALexander, G.J.: Investice (překlad), Victoria Publishing, Praha, 1994 Sinkey, J.F.: Commercial Bank Financial Management, 5th edition, Macmillan, New York-Oxford, 1998 Description: Semestral intensive course is focused on the basic finace, elementary banking and capital markets instruments and institutions. 16

17 Elective Courses EB019 - Economic Transformation II PhDr. Adam Geršl PhD. Prof. Ing. Karel Kouba DrSc. PhDr. Eva Kreuzbergová Kouba, K., Vychodil, O., Robertsová, J.: Privatizace bez kapitálu. Zvýšené transakční náklady české transformace, Karolinum 2005, Praha Discussion of transition from different angles of economic science, especially institutional economics and new political economy. Výklad a diskuse textů předních ekonomů mezinárodní ekonomické obce o teoretickém a hospodářsko-politickém zázemí transformačních procesů z hlediska institucionální ekonomie. Komparace makroekonomických, mikroekonomických, institucionálních problémů a strukturálních ( penzijních, zdravotnických ) reforem středoevropských tranzitivních zemí. Description: Transformace a privatizace v původních představách a let poté: Diskuse v mezinárodní a české ekonomické obci o výsledcích transformace ve středoevropských tranzitivních zemích. Neuspokojivě odpovědi na neočekávané problémy. Teoretické zázemí transformačních programů: Neoklasická a/vs neoinstitucionální ekonomie. Evolučně-institucionální analýza transformace. Privatizace v tranzitivních zemích: Teorie vlastnických práv ve specifických podmínkách tranzitivních zemí. Bezpříkladná obtížnost privatizace. Úskalí české privatizace. Komparace výsledků privatizace. V čem vývoj tranzitivních zemí obohacuje vývoj ekonomické teorie. EB035 - Probability Theory and Statistics III Ing. Monika Hollmannová Doc. RNDr. Jan Ámos Víšek CSc. J. Á. Víšek : Selected Topics from Statistics. Carolinum. Anděl, J.: Matematická statistika, SNTL & ALFA, Praha, Bratislava, Anděl, J. (1993): Statistické metody, MATFYZPRESS, Praha,1993. Antoch, J.- Vorlíčková, D.: Vybrané metody statistické analýzy dat. Academia, Praha, Rao, C., R.: Lineární metody statistické indukce a jejich aplikace. Academia, Praha, Description: The course is a continuation of the courses Probability and mathematical statistics I and II and enlarges knowledge from there about the new topics, namely frequently used ones. Firstly, the attention is paid to the bayesian statistics, i.e. to the possibility to utilize the a priori obtained knowledge in the statistical inference. It is an approach which is altyernative to the classical Fisher statistics. Then we shall turn to the tests of good fit, processing of contingency tables and finally we will study theory of selection from finite populations. I. Bayesian statistics Basic idea of bayesian statistics, Bayes theorem, systems of apriori- distributions, uncertainty principal, Jeffrey s theorem and corresponding system of apriori-distributions. Predictive density. Types of estimates. II. Tests of good fit Chi-squre test of good fit with known and unknown parameters. Kolmogorov-Smirnovov s tests. Tests of good fit for some special distributions. III. Contingency tables Test of independence and of symmetry, Fisher s and McNemara s tests. Stuart s test. Simpson paradox. 17